your 175 million dollar extension. yesterday mariner officials said they were concerned about a possible elbow problem on hernandez's pitching paarm and they're holding up the 175 million dollar deal. imus: oh, man. 18 after the hour here on the "imus in the morning" program. and bernie will have a briefing coming up and then we'll talk with tom friedman. "varney & company" coming up on tv. happy birthday to sheryl crow. ♪ ♪

♪ ♪ imus in the morning ♪ >> tax the rich some more. and keep spending money. you will hear that in the president's state of the union message tomorrow. clearly, he's not been listening to dr. ben carson. good monday morning, everyone. the leaks are trickling out. tuesday's big speech pretty much laid out already, no basic change, tax and spend for another four years, but it's the opposing point of view that's getting he the attention this morning. dr. ben carson a renowned neuro

surgeon lectured the president on taxes, obamacare and morality at the national prayer breakfast. mr. obama has not had to listen to people who see it differently. he had to listen to 25 minutes, the left is outraged, lecturing the president, and some have taken note. dr. ben carson should be be president. the tax the rich policy is shaky and obamacare is a disaster, but the debate on what to do, what's right to do about it is back on the front burner. "varney & company" is about to begin. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today.

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>> i've got to tell you this was a monday morning stunner. pope benedict announcing he will step down at the end of the month, the first time a pontiff has resigned in over half a

millennium. he's 85 and says he's stepping down because of advanced age and deteriorating strength. he was elected by the college of cardinals back in 2005. the vatican says the cardinals will meet and choose a new pope before the easter holiday. they will move quickly with this one. i've got a couple of tech stocks that might move and may move the whole market this morning. first off, according to reports, apple is working on a new chris watch that could be made of glass, if they make this thing and run on the same operating system as the iphone. the wall street journal reports that apple has already discussed plans for this device with the manufacturer in china. next item, does he know something we don't? google's eric schmidt selling 42% of shares in google stretched for the next year, worth about 2.5 billion dollars. maybe that will move google stock. and maybe some good news for microsoft, maybe, the new version of the surface tablet

the surface pro sold out almost immediately on-line and at most microsoft stores after it first went on sale saturday. this could either mean strong sales or just the lack of supply. some reports speculate that microsoft could have intentionally limited the number of devices available. all three tech stocks, let's see what happens when that market opens later and we have vladimir putin, he's stuck up on gold, over the last decade added 570 metric tons of gold to russia's bank. and for putin's party says the more gold the country has the more sovereignty if there's a cataclysm with the dollar, the pound or any other commodity. and since putin has been buying, russia is now the largest buyer of the metal. the opening bell is next. we thought we'd bring you

renowned neuro surgeon ben carson in his own words his lecture to president obama. >> i alluded to god and he said i wanted time. he didn't see if you don't have any money don't give me a tithe, didn't say if you're the richest man in the world, a triple tithe, portionalty is really fair. a percentage, and by definition if you're a billionaire, you're going to pay a whole lot more than somebody who is poor. and that's fine. but i think everybody should put into the pot. everybody should be a part of the equation. everybody should have skin in the game. if god thought that was a good idea, i don't see why we think we're smarter than he is. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep.

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>> all right. everybody, let's kick it off again this monday morning, trading begins in a matter of seconds and we're going to have the dow jones industrial average open right around 14,000. we'll be kicking off the session from 14 k. that means, i hate to repeat myself, we've been saying it for a couple of weeks now, we're just what, 150, 160 points away from a record all time high for the dow jones industrial average. we started pretty flat and slightly down at one point and can't make much of that at the moment and roughly a 10 point game close to 14 k.

we're over dead flat down a point. let's move on because a moment ago, we brought you three big tech stocks on which there is news this morning. let's see if they're moving as he we open up the trading session. first of all, let's go on google. eric schmidt selling about 40% of his stock holdings and nicole, where is google. >> well, it's down, it's slightly down, it's not down in a big way and this is after this particular company and the stock hit an all time high last week and it's not unusual. a lot of folks that i've read about and the analysts they don't think that eric schmidt is selling as chairman. it would be a bigger deal if it were larry page. stuart: i don't know why eric schmidt is selling and we don't know the reason. down 1/2%. apple, let's see if this one is moving. reports of an apple watch, as in a wrist watch. what's the stock doing? >> it's pretty amazing how they're coming up with the next great thing.

we've waited a lifetime for one product for blackberry. a week goes by and we hear another product from apple. the stock isn't doing too much, but this could be the next big thing. >> they want is to be and want us to talk about the next big thing, but apple is at 475 this monday morning, a week ago, it was down 430, 440. don't laugh, nicole, i want to move on to microsoft. they did indeed sell out of their new surface pro tablet. the new tablet went on sale saturday and they sold out. some people say because they deliberately restricted the supply. some people say it's a good sign if they sold out and tell me what's happening with the stock. >> up about 1/2%. whatever they did or did not do, if that's your business, and not put out as many too fast and sort of test the waters and the demand, not bad for little

microsoft. stuart: the diminutive, little moth. we'll get back to you. dow average is down. we were expecting a gain of 10, 15 points, didn't happen we're about 30 points away from 14 k. i do want you to take a look at gas prices though, they actually held pretty steady, a national average of 3.58 for regular, over the last month, prices are way, way up. jumping 25 cents a gallon, just in one month. now, if you add that surge in the price of gas to the increase in the the payroll taxes that hit everybody, on january the 1st. it looks to me like working families, to coin an expression, are taking a double hit. gas prices, payroll taxes, all of them up. we told you last week, that texas governor rick perry released an add trying to lure california businesses to his state and today, kicks off a four day retreating tour, going

to california to recruit businesses, trying to sell him on the idea, let's go over to texas. joining us now is radio talk show host, larry elder, who is in fact a los angeles kind of guy and he's in los angeles now and i want you to tell us, what do you make of rick perry, asking you guys to get out of the formerly golden state and quit? what do you say? >> well, stuart, i don't blame him. ceo magazine named california the worst state in which to do business now for eight years in a row and texas number one, and california imposed a 13.3% state income tax for every dollar above, making $40,000. think about that. texas has no state income tax and when somebody like phil mickelson says he's not going to leave california, the governor brown's attitude was, it's not a-- closed quote, this is a hostility towards high income/job creators that this state has. >> do you think he's going to be successful? this is governor perry. he's in california. he's gone there and touring

around there for four days, trying to get people to-- >> and texas has been successful and california lost about 300 jobs, and many have gone to texas and florida with no income taxes. stuart: you said 300 jobs in the last few years, did you misspeak? >> 300 businesses have either moved all of their facilities or part of their facilities out of the state and gone to places like texas, arizona, and florida where there aren't any state income taxes or where the regulatory climate is far more suitable for businesses. we're losing a lot of people and businesses in california now are leaving and people replacing them are bringing a lower tax base than the ones leaving, stuart. >> so, larry, you're a well-paid guy and a nice house there in los angeles. >> very nice house. stuart: i know you do. >> overlooking the city, yeah. stuart: okay. why aren't you moving? >> i can't. i'm at a radio station and frankly if i could move i would.

i'd happily move over to arizona where there aren't any state income taxes if i could. but i can't because of the facilities. a lot of people i know who have businesses, stuart, are in fact leaving or leaving part of their facility somewhere else and we also have probably the modraconn global warming, and that's what we have a left wing legislature. imagine having a lower house and an upper house with someone like nancy pelosi running it with supermajority and the governor of california they can do whatever they want without a single republican vote and they are. stuart: governor brown says wait a minute, you're forgetting the attractions and advantages of california whether it's the weather, the culture, the infrastructure, the intellectual infrastructure, the man's got a point and the climate is really cool and the rest of it. he's got a point, doesn't he? >> well, obama has a point saying most americans are not going to leave the country even though he opposes income taxes and we're going to fight to make

it better, but no reason we have to be a tax spending and regulatory state of the union just as in washington d.c. and sacramento, the capital, democrats believe we have a revenue problem not a spending problem and extract the money from rich people and the problem with socialism sooner or later you run out of other people's money. the problem with california's politics, sooner or later you'll run out of rich people. and we're running out of rich people. stuart: give me your comment upon dr. ben carson and the speech that he delivered at the prayer breakfast. >> extraordinary, not only complained about the high cost of medical care, but offered a solution, and welfare without saying it, and vouchers would be a good idea. this guy was giving the republican platform speech for 2016. ben carson for president as far as i'm concerned. >> are you going to trump govern--

trumpet governor perry's visit on your radio show. >> i will. stuart: you could be a traitor to the formerly golden state. >> i'm he pro america and the whole idea between federalism, 50 states are supposed to compete against each other for scarce resources and those are high income people and job produce herbs, i don't blame rick perry for doing what other people do, good old-fashioned american competition, instead of calling it a fort what the governor did, reducing the regulatory burden on businesses so we don't have people leaving the state. stuart: larry elder, you put it well. thank you very much, larry. >> you got it. stuart: here is what we've got for you new at ten. you heard about the jump in gas prices. we've got one governor trying to do something about it directly. and the governor of virginia mcdonnell will bring a proposal to abolish the gas tax and he's coming up on the show live 10:15

eastern on this program. zynga, i keep calling them the phantom pigs people and they're a winner and i want to know why. >> you're right on the money with that, however, it's not the phantom stock, this stock continues to jump. here it is today up 2.3%, they begin the road show presentation, where they go out and tout zynga galore, unexpected quarterly profit and severe cost cuts and here to date for the year 2013. this stock is up almost 15%, and what is that, six weeks? >> i hate to refer to this, but i believe that one point i put them on death watch. >> no, you didn't. no you didn't, did you? >> we'll look in the archives, okay? >> how am i friends with you? no, kidding. stuart: nicole, thanks a lot. see you in a second. >> that's the buy signal, our viewers should know that by now. stuart: this is not good news for "varney & company," believe me. thanks, nicole. by the way, everybody, we do

want to hear from you. and check us out, send us your e-mails and any and all subjects are fair game and let us know. by the way the dow is now down 35. so we're back to 13, 957. on this monday morning, seven early movers, up first is lowe's company losing money in the fourth quarter, blaming super storm sandy and the stock though is down, not much. next up, sanofi, the fda ruling against an application for a new insulin drug from sanofi's competit competitor nor tis-- i'm not sure pro new englands sayings, sanofi, up 1 1/2 bucks. and boeing completing quote an uneventful test of the dreamliner over the weekend. the dreamliner's first flight since being grounded more than three weeks ago, that stock down a little this morning, but at $76 a share. regulators approving a new drug

from celgene that treats patients with multiple myeloma. the stock is up, but hardly at all. j.p. morgan giving an upgrade to 90's stock. 90 is up 1%. mortgage insurer radian group reporting a big loss in the fourth quarter, the stock is taking a hit of 5%. finally, u.s. airways, i should say, are closing in on a 11 billion dollar merger with american allies and it would create the world's largest ally and they're trading up a little tiny bit, holding right around 14 bucks a share. all right, the fed keeps on printing, economic growth slowing, and vladimir putin gets the hit and he's been hoarding gold for a decade and why the price moving higher? we'll discuss it in a moment. (announcer) scottrade knows our clients trade and invest their own way. with scottrade's smart text, i can quickly

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right there another 14,000 and did not happen. we're down 47 points, 13946. now this, ben bernanke is printing up a storm we know that. the japanese doing the same, printing a lot of money. europeans same story, printing up a storm, it's a race to the bottom for paper currency values, so, why isn't gold spiking? why not? eric bolling is the co-host of "the five" and knows a thing or two about trading commodities. and has an answer. >> first let's start with what gold is, what kind of trade gold is. gold and the other commodities, there's a big pool of money that kind of chases the hedge on this one, when the stock market is doing very well, people want to hedge it and say, hey, what's going on here. if things turn south and started to in 2007, 2008 the big pool of money went for the hedge, the nonequity asset hedge and gold, oil, commodities, real estate and that's not doing so well. so the vast majority into gold

and oil funds. the markets went up. things look better and you and i may disagree whether the american economy is turning around and you may think it's taking long are, it's a big ship it's going to start to move and what happens, people start, number one, this hedge is being lifted. they're taking money off the table in gold and oil and going to look for another home for it, equities, real estate. they'll find another home. and the chart looks bad and here is the one. when things look better in the u.s., the u.s. dollar performs very well. if you want to do business in the u.s., you've he got to do business in the u.s. to we have a chart, a three-month chart that tracks the dollar's performance? >> yeah, the end of that chart, i see the dollar going up. and look the at the end of it and the last bit there is a substantial move in the u.s. dollar and it continues to, on its upward pace when people are demanding u.s. dollars. what happens, the dollar goes up, gold and oil prices go down

because it takes fewer and fewer of those dollars stronger, takes fewer u.s. dollars to buy a barrel of oil or an ounce of gold. >> you're familiar with gold bugs, and they always say, if you print a lot of money you get inflation, so, gold goes up, so what happened to our theory? >> we don't have a lot of inflation, that's the issue. there is food inflation and-- >> how does eric bolling explain that? >> the only way to explain, inflation is a function of many things, one is also interest rates. if things are so bad out there and they're bad out all european countries that are struggling to get back on their feet and things are so bad out there, they can't demand more for the money. there's no currency, there's no strength in the currency and no way to raise on a global basis, you can to the yield, you don't get percentage you get basis points and until that turns around. stuart: so is vladimir putin,

the boss of russia, is he wrong? we ran a story, 570 tons of gold in the last ten years and he says he's doing it because there may be a cataclysm in the dollar, the yen or the british pound or the euro. >> yeah, i don't think he's right. the on the fox news i held up a gold coin and i said buy this don't ever sell this coin. $600 an ounce was that day now it's 1600 and change, over the last year or so i talked to a lot of people and the newsletter on gold and some physical commodities, a year or so back off, don't be buying more, don't sell what you have don't be buying more, i think that putin is off base, buying and accumulating right here. and i would say, look, this money, this pool is about to move out of the commodity trade and into the other things, i think it's going to be equities and i'm darn sure and betting my dollar, my own dollars it's going to be real estate as well. stuart: and that's fascinating. so you agree with a lot of the people on the program, equities, stocks and real estate.

>> yeah. >> get it out of gold, and get out of bonds. >> i wouldn't sell stuff, but wouldn't put new money to work there. stuart: eric bolling, you know what you're talking about and thanks so much, eric. see you soon. >> dr. ben carson, he held nothing back at last week's national prayer breakfast, a lecture to the president on education and health care. he did all five feet away from president obama. and charles and sandra smith will respond to this. ♪

♪

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>> you make 10 billion dollars, you put in a billion. you make $10 you put in 1. some people say that, they say well, that's not fair because it doesn't hurt the guy who made 10 billion dollars as much as the guy who made 10. where does it say you have to hurt the guy? he just put a billion dollars in the pot. stuart: ouch, that was dr. ben carson lecturing president obama at the prayer breakfast. and charles your first chance to respond to this. you've got to say what? >> amen.

mitt romney was running, how could a guy running for president be scolded for donating millions to charity by people who donate nothing? i mean, just, and i love the idea that you know what, there's someone who's smarter than even the president of the united states who thinks it's a good idea, god. and 'cause god's in favor of a percentage. charles: right. stuart: a tithe. charles: you don't pay $20 and sandra pays 1% because you make more than her. stuart: it stands the idea of fairness on your head. the more you make the more you pay. but you do pay more and that's the disingenuous argument obama has made for the last several years that somehow warren buffett pays less taxes, he may pay a less rate, but when the check is written out. >> hallelujah, amen, dr. karrson was raised by a single mother,

and president obama looked shock and did not applaud at all when applause game it was riveting. he attacked the deficit, he attacked the spending problems in this country, taxes in this country and he hit on every sensitive issue, possible, it was easy to understand. stuart: let's see if our people can put that in its entirety. whole 25 minute lecture on our facebook page or somewhere accessible for everybody, we'll try and do that for you. as if it wasn't bad enough to california. it's running out of doctors and it's because of obamacare. my take on that coming up next.

stuart: good morning everyone. california wants to change the rules on just who can diagnose and prescribe medication when you're sick. give more power to nurses, medical assistants and pharmacists, open up what used to be the job of doctors only. 350 similar rule changes have been proposed around the country in the last two years. that's a real switch in the medical business. diabetes, high blood pressure, diagnosed and treated by people who do not have the same level of medical training as doctors? what's going on? obama care. in california it will shift millions on to state-provided healthcare. but they don't have the doctors. only 16 of the state's 58 counties have enough already, and with one third of doctors

there near retirement age, california faces a crisis. so change the rules. let more people act like doctors. you happy with this? we are attempted to repeat speaker pelosi's you've got to pass it to know what's in it tape but we won't. we will keep on top of the story for you. this is varney & company. let's kick it right off this monday morning with blackberry. the stock is down big. there is news on it. what is the news, nicole? nicole: not a good new piece of news here for blackberry which is down about 6%. now we're hearing that home depot obviously a large retailer, they are going to switch over about 10,000 employees to the iphone, over to apple iphone. i mean, talk about a black eye for blackberry on the same weeks that it's been talking about its

blackberry 10. now they are talking about 10,000 employees, district managers, corporate managers in the stores switching over to the iphone. stuart: is it the first of others to migrate away from the blackberry? that's the question. nicole, thank you very much. to the big board, down about 40 points not a big move this monday morning. moving a bit away from the 14 k level. now, we could be getting closer to a decision on the keystone pipeline. new secretary of state john kerry met with a canadian counterpart on friday. the main part of that discussion was the fate of keystone. congressman fred upton, a republican from michigan, he is chairman of the house energy committee and joins us in new york right now. welcome to the program. congressman welcome to the program. seriously, do you think we have a probability here of a reversal president obama and saying yes to keystone? >> i hope that will happen. there's been strong bipartisan

support for keystone. last week 146 members republicans and democrats sent a letter to the president saying hey it is time to get this thing done. stuart: what's your judgment? yes or no? >> i hope that he does this. i'm not convinced. i will tell you, i'm not convinced that he will. and the sad thing is, i'm sure the canadians made the point on friday when they met with secretary kerry, look, we're going to do this no matter what. we're going to go from a million barrels a day to 4 million barrels of production -- stuart: the canadians will do that. >> yes. before the end of the decade, if it doesn't come to lower 48, to create jobs, they will send it to china, they will build the pipeline east to the atlantic and send it by boat to the refineries. it will just raise the costs. stuart: it's a very big deal because if the president did okay it, it would signal a reversal on energy policy. >> that's right.

stuart: i mean you bring a lot of jobs in, and you might reverse on fracking, so you'd have a real energy revolution in america. >> that's right. you know, we can be north american energy independent. let's utilize our friends in canada and mexico. let's use our resources to be competitive with the rest of the world. stuart: why doesn't he just jump at it and create jobs, energy independence, very very quickly, real jobs no cost to the government or the taxpayer? why do you think he's not doing it? >> there's no good reason not to do it. that's why it is bipartisan. stuart: are the environmentalists that powerful? >> they are pretty strong, without question, they made a point that they did not want this thing done. they are going to have another protest in another week or two in washington as well. but it's, you know, this thing has been bipartisan, yes, senator kerry voted against it when he was a senator from massachusetts. he's in a different position now. let's hope he makes the right decision and says okay, we're

ready for this after four and a half years. stuart: i have to leave it with the subject but i will leave it with you being somewhat skeptical that the president will approve keystone? >> i'd like to think he will. but i won't be surprised either way. stuart: now i have to turn to the question whether or not we have a spending problem in the united states. you are in the middle of the debate. i want to refer you to nancy pelosi who appeared on fox news sunday and in it she did we do not have a spending problem. take a look at this. >> cuts in education, scientific research and the rest are harmful and they are what is affected by the sequestration. so it is almost a false argument to say we have a spending problem. stuart: all right. so there's two questions here. do we or do we not have a spending problem? and are we going to sequester and cut domestic spending significantly? first question, do we have a spending problem? >> both answers are yes. both answers are yes. and remember, the president said he wanted a balanced -- balanced

approach. he got his revenue back, last month, january 1st with the resolve of the fiscal cliff issue. raised literally 600 billion in new taxes. no real spending cuts. what this sequester does on march 1st, it says look, it's coming. it's going to be in 85 billion dollars reduction in current spending for this fiscal year, and it comes unless we pass something to turn it off, and that's not going to happen. stuart: are you in favor of sequestration? >> it has to happen. without an alternative. in the house last year under speaker boehner and cantor, we passed in the house two different bills with spending offsets on the sequester, and the senate didn't take either one of them up. so we are now left in the position of this sequester that's going to come. charles: there's no doubt that the tables have been turned. i think everyone thought the republicans would be fighting tooth and nail over sequester, not for it to go through. does this also give the republicans the moral high ground later on to say listen,

this was a -- we bit the bullet and now it is the same time to do with -- now it is the time to do the same with the entitlements. >> you will find the right group out there looking for their little section, but we've got to get off this -- we've got to be able to reduce spending, and that is happening with the sequester. we will see another debate later on in a few months as it relates to entitlements. stuart: let me sum it up like this. thank you very much for being with us, by the way. you say probably the president will not allow the keystone pipeline, but yes, we do have a spending problem and yes we probably will -- >> i want to be surprised by the president. i would like him to say tomorrow night in the state of the union, we are ready. stuart: give me the odds. >> i don't think he's going to say that. stuart: congressman upton, what a pleasure. thank you very much for joining us. much obliged to you. new at 10:00 story, as california moves to cover a whole bunch of new people under

obama care, they're running into a huge problem. they simply don't have enough doctors to treat all the new patients. their solution, just recategorize pharmacists, physician assistants and the like as primary care doctors, just to help with the doctor shortage. all right, everybody, this is another unintended consequence of obama care. charles? charles: it is an unintended consequence maybe, but it is one of those common sense consequences that everyone knew. we're going to put millions of people on the system tomorrow and we will have enough doctors. everyone already knows that was unbelievably -- stuart: but you could rationalize this, you could say this does extend care of a sort to millions of people. charles: but stuart who is going to be in the one when you go to your doctor, do you say no bring me in the nurse you don't have to check me out doctor? who is going to be the one -- it gets us back to quality of care. it takes you down the road we knew we would go but no one wanted to be honest about it. sandra: i think california is

realizing the real constrain of obama care, that it's accentuating the problem the lack of doctors that are out there right now and people are not only going to get less coverage, they are going to get worse coverage. they are changing the rules from the desk. stuart: i'm tempted to roll nancy pelosi's sound bite again. we've overdone it. we're not going to do it. don't do it guys. thank you very much everyone. moving on, millions of dollars have been raised to save the polar bears. do they even need saving? an environmentalist who moved his entire family to canada just to track them down, what he thought was a dwindling polar bear population, he thought he was going to write their eulogy. he found something completely different. the polar bears are alive and well and thriving. the man who wrote the book on this program is with us, 10:35 this morning. now we're going to talk technology for a second. there's something called --

oovoo, a video chat feature that will come on the new blackberry 10. it is a direct competitor of skype and it could be a game changer for blackberry, maybe. joining us now is the president of oovoo. welcome to the program. >> good morning. stuart: you go right up against skype, don't you? that's what you do? >> we have 70 million people using oovoo today. skype is not secure. it's peer to peer. we host conversation in the cloud. stuart: i can carry on a group conversation with oovoo is that correct? >> you can have up to 12 different people on 12 different devices all in hd quality, absolutely free. stuart: that is i think what -- i'm going to say that's the big deal, isn't it? the fact that you have got group chat with hd quality. that's your appeal? >> that's why hundreds of

thousands of people are joining the service. stuart: i'm sorry. i didn't know the correct pronunciation when you have 70 million people using this, sir, i do apologize for that sir. >> what's great for the blackberry, in the past blackberry messenger only allowed a person to video chat with blackberry. we let blackberry to talk to ios, android, pc, mac, any device, anywhere any time for free. stuart: if you have 70 million people using your service, how do you monetize 70 million people using your service? >> actually the same way fox does. we do a billion plus minutes of video a month, and there's lots of room for advertising. stuart: are you a private company at the moment? >> yes, we're still private. stuart: who are the big owners? do i know any names or any corporate ownership of any kind? >> no, we're privately backed by capital. stuart: any plans to go public?

>> not at this time. right now we're just trying to ride this incredible growth rate and bring out new features. stuart: did you say 100 to 200,000 new users a week, was that? >> per day. we're adding about a million people every 8 to 10 days. stuart: that's quite a track record sir. we appreciate you being on the show today. i do apologize if i did not have the correct pronunciation thereof. see you again soon. we appreciate you being with us. thank you. >> thank you. stuart: we posted dr. carson's speech on our facebook page this morning, by the way. here's what you are saying about it. first of all, from nancy, she wrote in and said this: amen, dr. carson, thank you for speaking up. got a lot of that by the way. this from paulina: >> then kathy suggested this:

stuart: follow us on facebook. check this out. it is a terrific speech. we have it all on our facebook page. go to it. very interesting. states making less money from gas taxes because cars are more fuel efficient. so there is a move to eliminate those gas taxes and get the money else where. virginia governor bob mcdonald wants to eliminate the gas tax. how does he plan on making up that revenue? he will join us next. this is $100,000.

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stuart: we have a lot of technology news for you this morning. apple is reportedly working on a smart phone you could wear as a wristwat wristwatch, the i-watch would be made with curved glass. we're up 481, big improvement from last week. google's eric schmidt selling 42% of the stock. google's stock is down a buck. microsoft's new surface pro tablet sold out immediately on-line and most of microsoft

stores. the new 128 gig surface pro was released on saturday. does that mean strong sales or just a total lack of supply? the stock is up 3 cents. the next guest wants to eliminate the gas tax and raise sales taxes to make up for lost revenue. he is the governor of virginia. that's what he is proposing. he is next. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side.

stuart: a very interesting proposal from virginia's governor bob mcdonnell. he wants to eliminate the 17.5

cent state tax on one gallon of gas. to make up the lost revenue, he would raise the sales tax from 5 to 5.8 percent, give back there, take here. well, governor bob mcdonnell join us now from virginia. welcome to the program. >> thanks, stuart, good morning. stuart: good morning, sir. i mean, are you doing this to drive down the price of gasoline and make virginia more attractive, or are you do you think it because you've got to raise more revenue and the best way to do that is to make up -- make it up with higher sales taxes? what are you doing? >> well, it's a little of both, but the big reason i'm doing it is we've got huge infrastructure problems in virginia, like most of the nation. northern virginia, washington, d.c. has been rated as the most congested place in the nation. and so stuart, the gas tax is on a long-term decline for obvious reasons, at a flat rate with

inflation and alternative fuels and higher fuel efficiency, it's going to be a declining source. so our thought is look, let's just get rid of it now, replace it with something that grows because of economic growth, the sales tax and make that transition right now. that's only a piece of it. we're going to use general fund and some other creative things, a slight fee increase, all of that will help build roads in virginia. stuart: what about the philosophy of this though? i mean, you're raising consumption taxes when we consume anything in virginia, we're going to pay more tax on it. and the argument is that hits poorer people far more than it would hit the wealthy or truly wealthy people, that it's regressive. what do you say to that argument? >> well, actually the -- it is not accurate because the gas tax is more regressive than the sales tax. in fact, we had a leading economic report come out about a week and a half ago saying exactly that. people in rural areas drive more. and so they'd actually be paying

less under this proposal. secondly, is the economic benefit will be we will have the lowest gas prices probably on the east coast, if not in the country. so everybody driving 95 from maine to florida they are going to stop in virginia and buy gas and hopefully buy some things to pay more sales tax too. i think there will be some other fringe benefits to us by doing that and long-term we will have a more reliable growth source of revenue. stuart: it's a very interesting idea because there's a whole lot of attention being paid right now to the taxation levels in different states. and the idea of moving your business to a state which offers a favorable tax. how much extra are you going to raise by raising the sales tax? >> it's revenue neutral. essentially revenue neutral in the first year stuart. that's the beauty of it, converting from gas to sales. but with gas going down and sales going up, over five years, it's an extra 600 million

dollars or so in new revenue, but again, that's only a piece of it. there are other components of our transportation plan. a lot of reform. i look at this as tax reform as you see other governors are doing. but it's dealing with infrastructure, which is quality of life, more time with your family, creating more jobs in your state is a challenge that every governors have, and this is our solution that we're proposing here in virginia. stuart: we appreciate you being with us today, sir. because this is part of a national debate, what do we tax? how high is the tax rate? what are we going to do in the future? thank you very much governor. always a pleasure. >> okay, stuart thanks. stuart: president obama expected to use executive orders for things like climate change, immigration. how far can he go with that strategy? well, the judge has a few ideas on that and he is next. i'm a conservative investor.

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>> 300 businesses have either moved all of their facilities or part of the facilities out of the state and they are going to places like texas arizona or florida where there aren't any state income taxes or where the regulatory climate is suitable for businesses. stuart: that was in our last hour. governor perry of texas is trying to lure people away from

california to get them into texas. there's in state income tax. governor perry will be in california for four straight days talking to californians saying come over to my start. very interesting. you have to watch at 9:20 catch all the good stuf right from the get-go -- good stuff right from the get-go, okay? checking the dow. nicole, i heard wendy's stock is higher. nicole: got a positive write up in barron's over the weekend. up about 3% now, had been up over 4% earlier this morning. they are talking about the potential for wendy's which we had seen same-store sales on the rise six the last seven quarters. it was a dud for a while and really trying to compete with mcdonald's and burger king but wasn't doing so. but now is building some momentum. new logo will be coming out in march. you know, they are going to have -- they are remodelling the stores. they are working on the menu. these are some of the things that they are doing. and they talked about the fact that it could rise 40%. wait a second. yes, 40%.

that's how much they think that wendy's stock could gain. so that is huge. new model -- remodelling, new logo, sounds like a win just like that. stuart: we will take that. thank you very much nicole. president obama is going to his state of the union address tomorrow. some people say he's going to start using more executive orders to carry out his second term agenda. what would judge andrew napolitano say about that, you may well ask. all right. judge, you think it is possible that the president will go the executive order route in two areas, first of all climate change. what are you expecting? i know you think it would be unconstitutional and flat-out wrong. but what areas? >> the statutes that have created and have continued to enable the environmental protection administration give the epa as a regulatory agency now, it's not executive, it is not legislative, it is not judicial, it is regulatory, give it a lot of discretion as to the

extent of its regulation, the science underlying its regulation, not the industries it will regulate. that's chosen by congress, but how it will impose the regulations. so certain parts per billion of a contaminant in the atmosphere, they could change that number by reducing it, thus imposing a heavier regulatory burden on the industries that are charged with -- they are charged with regulating. because the president chooses the members of the epa and because once there, they are likely to follow his leadership and guidance because they share his values, he could pretty much get out of the epa almost anything he wanted. stuart: but he can't impose a carbon tax or anything labelled as a tax because that's congress's authority? >> well, yes and no. because it depends on what you call it. for example, we all pay more for automobile batteries in our cars because the epa charges the manufacturer for the cost that the epa incurs when it cleans up

the batteries 20 years later when they are deposited in a land fill. stuart: that is a tax. >> it is a tax. they don't call it a tax because it is not imposed directly on consumers, but it is passed down from the manufacturer of the battery to the manufacturer of the automobile to the dealer of the -- to the seller of the automobile to the end user. so he could do that with bullets, for example. stuart: gun control. >> correct. he could do that in a number of areas. remember, an executive order permits the president to tell the people who work for him that's 3 million civilian employees in the executive branch and about 2 1/2 million military employees in the executive branch, how to do what they are supposed to do. he can't tell you how to host this show. he can't tell fox how to run the show. he can't tell the new york times how to write editorials. he can only regulate government employees in doing their work. so where do you regulate them? where they have discretion and where they get the discretion

from the congress. stuart: you mentioned gun control. he could go the executive route with a tax essentially on bullets or an extra charge on bullets. he could do the same thing with climate change. what other area could we see executive action? >> well, there's so many areas of private enterprise that are regulated by the federal government. banks, the financial industry, charles' industry. stuart: are you saying he can do what he wants? >> >> no he can't do what he wants. but there are areas where the federal government regulates banks and the financial industry where he could tighten or loosen the regulation in order to draw them in the direction that he wants. but this is the fault of the congress for having given this president and in most instances his predecessors vast discretion, too much discretion as to what laws to enforce and how to enforce them. stuart: i'm almost out of time. i have to get your comment on dr. ben carson and his lecture

to the face of the president and about the flat tax. >> i think everybody should read that lecture. it was a marvelous, marvelous terrific eloquent moving -- moving example of up by the boot traps individualism. as far as the sense that it made of the tax -- i don't like paying taxes anymore than anybody else does, but a 10% flat tax would be about as fair as you could imagine, would encourage hard work and would bring more money to the treasury than they get now. stuart: a 10% flat tax. >> that's pretty low, isn't it? that would make steve forbes just bubble with enthusiasm. his is about twice that. stuart: he proposed more like 17%? charles: he talked about the fairness aspect. he didn't say necessarily it would be 10%. but because in the bible 10% is the tithe. the bottom line it is about fairness. >> he made a moral argument that at some point taxes are so high, so progressive, they are unfair, they discourage ingenuity.

stuart: thank you very much judge. i've got my take on what dr. carson said coming up shortly on the program. next, our next guest says he saw first-hand that the polar bears don't need saving. we will hear from the man who wrote the book on the thriving polar bear population. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. can youlyric can.aid do th lyric can.

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stuart: we've been trying to get to the truth on the polar bear issue here on varney & company. millions and millions of dollars are donated to save them. coca-cola brought in 2 million to its own save the polar bear fund. the natural resources defense council says polar bears are going extinct. here's what the nrdc told us about this last week: >> president george w. bush listed polar bears as threatened, but he did it for a good reason. this is about ice, arctic sea ice. polar bears need ice the way fish need water. it's their home. it is where they get their food and raise their families. it is literally their world. that world is melting away. climate change is a threat to these polar bears. we need to stand up for these magnificent creatures. we need to stand up to the threat of climate change. stuart: look, we have the author who set out basically he set out to write a eulogy for polar bears thinking they were indeed going extinct. he's joining us from san francisco, zac unger, he's the

author of the book never look a polar bear in the eye. zac, it occurs to us if the polar bear population is going up and i believe that's what you tell us in your book, then this money that's being raised to save them is in fact -- it's nonsense, they don't need saving, is that correct? >> i wouldn't say that the polar bear population is going up. it exploded 40 years ago when there was a global hunting ban. that is not to say that global warming is not real or not a problem for polar bears. what's a problem is sort of how people react to that number. some people say there are more polar bears now than there were 40 years ago so we can't talk about that because it doesn't fit our political point. then some people use that to insinuate that polar bears are fine and global warming isn't really happening, kind of like you did in the lead-in to the segment. neither point is intellectually honest. stuart: so your book is not about whether we've got global warming or not, whether we have the ice melting -- that's not the point of your book. you want to set the record straight on the fate of polar bears, which brings me to my

point would be that the degree of financial -- financial exploitation here, a great deal of money is being raised on the suggestion that polar bears are in deep trouble, going away, becoming extinct. >> everyone is sort of trying to get across their own political message. you can't do science by sound bite. when a bit of science doesn't go your way, then you risk undermining your own cause. polar bears are a great spokesman, because it is hard to get anybody excited about the extinction of some sort of arctic algae. i suggest that while global warming is real, this focus on polar bears is a distraction from the real cause. stuart: you say never look a polar bear in the eye. i believe they are ferocious creatures. if you ever saw one tear apart a baby seal, they're not so cute as they're made out to be in my opinion. >> that's true. i had some hunters telling me that hunters for polar bears is the easiest thing in the world because you go stand out on the ice and the polar bear will come to you looking for food.

all you need is a really good coat and you are a polar bear hunter. stuart: is there polar bear hunting? >> mostly by first nations and native people, definitely still hunting, not nearly as much as it was 40, 50 years ago. stuart: you set out to write a eulogy, and you ended up actually almost writing the exact opposite, did you? >> i wouldn't say the exact opposite. i just think that what's happened is science has blurred into advocacy here. that's a real problem. the public has a right to know when they are getting science and when they are getting propaganda. i think polar bear populations are stable now but they face significant risks in the future. we can't oversell the present lest we risk turning off the very constituency that we're trying to convince somebody of something. stuart: point well taken. thank you very much for being with us. >> thanks for having me. stuart: housing, we have been saying it is the one bright spot in the economy, so why are more people renting versus buying? apparently they are. we will ask a real estate bull

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people with copd taking advair may have a higher chance of pneumonia. advair may increase your risk of osteoporosis and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. stuart: it was announced this morning that pope benedict xvi will resign at the end of this month. the pope made the announcement at a meeting with the cardinals saying he's no longer strong enough to carry on as pope. he's the first pontiff to step down in many years.

check out gas prices please. regular holding steady over the weekend, 3.58. gas prices have spiked 25 cents in the past month. with gas prices rising the price of oil right now is stable around 95 bucks a barrel. blackberry took a hit this morning after home depot announced it will drop 10,000 off the blackberry system and move into the iphone. sources close to home depot say the transition to apple's smart phones will happen in the coming months. blackberry stock down big. shares are lower. coming up, rent or buy? our next guest has an opinion. w. a talking train. this ge locomotive can tell you exactly where its, what it's carrying, while usi less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪

stuart: we've been saying that the housing market is a bright spot in this economy. however some skeptics say most of the people buying these homes are in fact investors who then rent them out again. so is that really a real estate recovery? let's bring in the our next guest, the ceo of rapid realty. welcome to the program. >> thank you for having me. stuart: is that an accurate statement, a lot of the new buyers are in fact investors, they don't live there, they just rent the place out, so there's proportionally there's more renters coming into the marketplace than actual real buyers? accurate? >> accurate. if you study the permitting and plans being submitted to building departments are all rental related projects. stuart: why is this? do you approve of it? >> yes, i do approve of it. in fact i grew my company because of it. renting is so attractive because it gives you the agility to move

from neighborhood to neighborhood and give you luxuries and amenities you can't afford to buy. stuart: that's not the american dream. the american dream is get a job, marry, have kids, buy a house. it will gain in value. do you think that's not a valid dream any longer? >> i think that when you study the equity appreciation rate right now, it is not really a dream. it is a burden. stuart: but if i'm buying at a very low price, and i would be, because they are down what 30% from five or six years ago and mortgage rates are incredibly low. i could make the case that that's a good purchase, a good idea, a good financial investment. >> well, it is a buy and hold market. if you are going to hang on for the next 7 to 10 years then maybe you might realize a profit. but if you want to sell right away, because your circumstances change, you are going to have a tough time. stuart: your business is you sell homes to investors. >> that's right. well, my business is really a rental business. i grew my company from one location to 60 locations over the past 30 months and mainly because our focus, our specialty

is rental. stuart: of course you approve of renting. >> of course. stuart: what do you say to a youngster who comes along and says look, i can get this house for $200,000, i've got the down payment. it would have been 400,000 five years ago, you have got to say that's a good deal. >> i would say are you prepared for some of the incidentals that happen? a leaky faucet could lead to -- stuart: that's nitpicking. of course it comes with the territory. sandra: isn't it also the taxes, the up coming expenses, to buy a home with the risk you might need to move two years later and that housing market might plunge 20% in that time, isn't that the risk that these renters are really trying avoid? >> absolutely. it's scary right now, you never know, even with natural disasters. stuart: come on. mortgage rates all time low -- sandra: i would agree with you, stuart. i think there's a reason though people are flocking to the

rental market. stuart: you're a youngster, up and coming -- come on. charles: the reason is sadly fear, and it's fear of unknowns that may or may not happen. i think unfortunately this is what's spooking the entire nation. and i think, you know, to stuart's point, a young couple should endeavor to buy a house while they can because anyone who doesn't buy a house right now probably will regret it 20 years from now. stuart: let's turn this around and look at it from anthony's point of view, from the investor's point of view. make the case to me that it is a good investment, not for the actual person who lives there, but for the person who buys it. go. >> well, first of all, the rental trends are just going up and up. i mean -- stuart: what do you mean? prices? >> absolutely. a dollar per square foot. and the demand is even p higher. -- even higher. there's more people going to college. people are not choosing dorm room living. they are choosing to rent apartments in the interim. it is definitely a strong rental market. stuart: you built a business on renting to college students. >> that's right.

stuart: how do you sell that to the investors the landlords? >> well, they love it. three roommates, three sources of income, especially if the college is offering a housing stipend, it all pays off, guaranteed money. stuart: what's the best market in the country? you are in 60 markets? >> yes. stuart: where is the investment most attractive? tell me, which area. >> well, new york. any metropolitan area that has the ebb and flow and the turnover. you want a tenant that's going to move out next year because the rent price increases. you want that turnover. you welcome that turnover. stuart: supposing they are a bad tenant, you can't get rid of them. >> well, you can. you have to screen them first and do your due diligence. you don't put anybody in your building. charles: according to census, a medium price for rental unit was 425 bucks in 95. it's almost 725 bucks now. it is almost doubled since then. >> almost doubled. charles: i do believe though beneath the surface of it all, it's all reflected, our low

birthrate, low marriage rate, people aren't starting businesses, it is a scary thing besides your business that people are afraid to buy houses. stuart: this is america. you've got to be optimistic. come on. we'll get back to real america at some point. sandra: there's a reason why the trend is what it is. people are afraid they are not going to have a job tomorrow but why buy a home. stuart: i think you caused a good deal of discussion. good stuff. appreciate you for joining us. >> thank you. stuart: my take on dr. ben carson's lecture to president obama. that's next. [ indistinct shouting ]

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stuart: at the national prayer breakfast last week, dr. ben carson lectured president obama on the morality of taxation. dr. carson's a frequent guest on this program. born into extreme poverty, he turned himself into one of the world's great neurosurgeons. he knows taxes. he knows morality. and he has an interesting take on exactly what is a fair share. here's my take: i respect and admire dr. carson. and when he stood up and talked taxation at the national prayer breakfast, i stood up and cheered. the left, harshly critical

saying the doctor's comments were inappropriate at a prayer meeting. i disagree entirely. dr. carson took a moral position, and that is entirely appropriate at a prayer meeting. further more, morality should be a part of the tax debate. the good doctor questioned the fairness of the president's fair share tax the rich policy. god, he said, wants a percentage and just because you're rich doesn't mean you should pay a triple percentage. and because you're not making much doesn't mean you should pay nothing. dr. carson thinks an equal percentage payment is fair. that's real skin in the game. i'm going to put my 2 cents worth in. is it moral to tell america that we can have all these handouts and entitlements and the rich will pay? no, it is not. surely, it is immoral to make that claim. you can tax the rich at 100%, and you still can't cover the cost of all these entitlements, and it is surely wrong to push

unpayable debts on to our children and grandchildren. that's morally wrong. tomorrow night the president delivers his state of the union speech. we are told it will be more tax the rich and more spend more money. he's not going to listen to dr. ben carson, but he should. you want to transform america, then morality should be at the center of your plan. analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

stuart: doctor carson made a big hit when he attended the national prayer breakfast. it is the entirety of our highlight reel. check this out, it is a terrific speech. >> you make $10 billion, you put in a billion. >> attack the deficit. he attacked the spending problem in this country. he attacked spending in this country.

>> ben carson for president. charles: there is someone smarter than the president of the united states, that is guy. stuart: shocked. absolutely right. tomorrow night we get the state of the union message from the president. he was just lectured on the morality of the country. i do not think he will make any reaction to ben carson tomorrow night. >> the mainstream media is not even covering this speech. while we are getting the message out there, i do not think the general public will really hear of it. i think it is fair to say that this will not go away because every single thought important that he made in that speech is a very now topic. it is in the moment. he will not go